In an interview with the Chicago Tribune, Merlin Media CEO Randy Michaels has given details for what will happen should the US Bankruptcy Court allow Cumulus Media to walk away from its lease and purchase of Classic Rock “97.9 The Loop” WLUP and Alternative 101.1 WKQX Chicago.
Michaels says that in the short-term he would continue to operate the stations as they are, stating “We are fully prepared to step in and operate the stations essentially as is. There are no changes being planned right now, other than behind the scenes.” There is an agreement in place to allow Merlin to operate the stations from Cumulus new Chicago studios at the NBC Tower. He would also bring on the current airstaff from the two stations.
He also says that Cumulus “not made a reasonable counterproposal” towards restructuring their deal, but does not rule out the possibility of a deal being reached.